Solapur University Question Paper
M.Com. – I (Semester – I) (New) Examination, 2014
ADVANCED ACCOUNTANCY (Paper – II) (Auditing) (Gr. A)
Day and Date : Monday, 21-4-2014 Max. Marks : 50
Time : 3.00 p.m. to 5.00 p.m.
Instructions : I) All questions are compulsory.
II) Figures to the right indicates full marks.
1. Choose correct alternative from alternatives given below each question. 10
1) In India, audit of company account is made compulsory by the Companies
Act,
a) 1913 b) 1956 c) 1949 d) None of these
2) Which assets cannot be purchased or sold ?
a) Fixed assets b) Current assets
c) Fictitious assets d) None of these
3) Audit programme is
a) Auditors report b) Audit note
c) Auditors plan of action d) Audit note book
4) Which auditor is appointed by the management of the company ?
a) Government b) Internal c) Special d) None of these
5) Determining the proper values of assets and liabilities is called
a) Valuation b) Vouching c) Verification d) None of these
6) Test checking is
a) Testing evidence
b) Vouching
c) Checking of few items selected through a process of sampling
d) None of these
7) Papers and documents which consists of details about accounts which are
under audit are known as
a) Audit working papers b) Audit programmes
c) Audit file d) Audit note book
SLR-NN – 19
8) Effective internal check system reduces
a) The liability of auditor
b) Work of auditor
c) Both work as well as liability of auditor
d) Responsibilities of auditor
9) Joint audit implies
a) audit of two concerns together
b) audit of two joint stock companies
c) audit of joint sector companies
d) audit by two firms of C.A.
10) An audit which commences before the preparation of final accounts and is
continued till it is completed
a) Balance-sheet audit b) Continuous audit
c) Interim audit d) Special audit
2. Write short notes on the following : 10
A) Branch auditor.
B) Preparatory steps before commencement of audit.
3. Answer the following in brief : 10
A) Discuss the main classes of errors and frauds.
B) Explain auditors duty regarding test checking.
4. Answer any one of the following : 10
A) What is joint audit ? Briefly state factors to be borne in mind while acting as
joint auditors and liabilities of joint auditors.
B) What is ‘external audit’ and ‘internal audit’ ? Distinguish between external
audit and internal audit.
5. Answer any one of the following : 10
A) What do you mean by verification and valuation of assets and liabilities from
balance sheet ? How would you verify the following :
i) Goodwill
ii) Stock-in-trade.
B) What is internal control ? Discuss the general considerations in framing a
system of internal control inrespect of purchase of goods.
_
M.Com. – I (Semester – I) (New) Examination, 2014
ADVANCED ACCOUNTANCY (Paper – II) (Auditing) (Gr. A)
Day and Date : Monday, 21-4-2014 Max. Marks : 50
Time : 3.00 p.m. to 5.00 p.m.
Instructions : I) All questions are compulsory.
II) Figures to the right indicates full marks.
1. Choose correct alternative from alternatives given below each question. 10
1) In India, audit of company account is made compulsory by the Companies
Act,
a) 1913 b) 1956 c) 1949 d) None of these
2) Which assets cannot be purchased or sold ?
a) Fixed assets b) Current assets
c) Fictitious assets d) None of these
3) Audit programme is
a) Auditors report b) Audit note
c) Auditors plan of action d) Audit note book
4) Which auditor is appointed by the management of the company ?
a) Government b) Internal c) Special d) None of these
5) Determining the proper values of assets and liabilities is called
a) Valuation b) Vouching c) Verification d) None of these
6) Test checking is
a) Testing evidence
b) Vouching
c) Checking of few items selected through a process of sampling
d) None of these
7) Papers and documents which consists of details about accounts which are
under audit are known as
a) Audit working papers b) Audit programmes
c) Audit file d) Audit note book
SLR-NN – 19
8) Effective internal check system reduces
a) The liability of auditor
b) Work of auditor
c) Both work as well as liability of auditor
d) Responsibilities of auditor
9) Joint audit implies
a) audit of two concerns together
b) audit of two joint stock companies
c) audit of joint sector companies
d) audit by two firms of C.A.
10) An audit which commences before the preparation of final accounts and is
continued till it is completed
a) Balance-sheet audit b) Continuous audit
c) Interim audit d) Special audit
2. Write short notes on the following : 10
A) Branch auditor.
B) Preparatory steps before commencement of audit.
3. Answer the following in brief : 10
A) Discuss the main classes of errors and frauds.
B) Explain auditors duty regarding test checking.
4. Answer any one of the following : 10
A) What is joint audit ? Briefly state factors to be borne in mind while acting as
joint auditors and liabilities of joint auditors.
B) What is ‘external audit’ and ‘internal audit’ ? Distinguish between external
audit and internal audit.
5. Answer any one of the following : 10
A) What do you mean by verification and valuation of assets and liabilities from
balance sheet ? How would you verify the following :
i) Goodwill
ii) Stock-in-trade.
B) What is internal control ? Discuss the general considerations in framing a
system of internal control inrespect of purchase of goods.
_
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